IDEAS home Printed from https://ideas.repec.org/a/inm/ormnsc/v13y1967i11p843-866.html
   My bibliography  Save this article

Parametric Production Planning

Author

Listed:
  • Curtis H. Jones

    (Harvard University Graduate School of Business Administration)

Abstract

This paper proposes a heuristic approach to the determination of work force and production levels. The existence of two feed-back rules (one for work force and one for production) is postulated. The universe of possible parameters is searched to find the set of parameters that provides the lowest cost or highest profit for a particular firm. Each set of parameters is evaluated by comparing the costs or profits resulting from the application of rules bearing these parameter values to a likely sequence of sales forecasts and actual sales. Decision rules formed in this way give cost and profit results nearly equal to those resulting from the application of the optimal techniques to purely mathematical problems. In more complex and more realistic situations, the results obtained by Parametric Production Planning may be superior to those achieved by a linear programming approach or a linear decision rule.

Suggested Citation

  • Curtis H. Jones, 1967. "Parametric Production Planning," Management Science, INFORMS, vol. 13(11), pages 843-866, July.
  • Handle: RePEc:inm:ormnsc:v:13:y:1967:i:11:p:843-866
    DOI: 10.1287/mnsc.13.11.843
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/mnsc.13.11.843
    Download Restriction: no

    File URL: https://libkey.io/10.1287/mnsc.13.11.843?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wu, Chia-Chin & Chang, Ni-Bin, 2004. "Corporate optimal production planning with varying environmental costs: A grey compromise programming approach," European Journal of Operational Research, Elsevier, vol. 155(1), pages 68-95, May.
    2. Shih-Pin Chen & Wen-Lung Huang, 2014. "Solving Fuzzy Multiproduct Aggregate Production Planning Problems Based on Extension Principle," International Journal of Mathematics and Mathematical Sciences, Hindawi, vol. 2014, pages 1-18, August.
    3. Buxey, Geoff, 2003. "Strategy not tactics drives aggregate planning," International Journal of Production Economics, Elsevier, vol. 85(3), pages 331-346, September.
    4. Gomes da Silva, Carlos & Figueira, José & Lisboa, João & Barman, Samir, 2006. "An interactive decision support system for an aggregate production planning model based on multiple criteria mixed integer linear programming," Omega, Elsevier, vol. 34(2), pages 167-177, April.
    5. Wang, Reay-Chen & Liang, Tien-Fu, 2005. "Applying possibilistic linear programming to aggregate production planning," International Journal of Production Economics, Elsevier, vol. 98(3), pages 328-341, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:ormnsc:v:13:y:1967:i:11:p:843-866. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.